Macquarie Australia Conference - 3 May 2022 - Mirvac
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Macquarie Australia Conference Susan Lloyd‑Hurwitz 3 May 2022 CEO & MANAGING DIRECTOR
MACQUARIE AUSTRALIA CONFERENCE
Acknowledgement of Country
Mirvac pays its respect to all Aboriginal and Torres Strait Islander peoples,
Traditional Custodians of the lands and waters of Australia where we live, work and play.
‘Reimagining Country’ by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji), We are 27 Creative. Cover image is 55 Pitt Street, Sydney (artist impression, final design may differ)
3 MAY 2022 — 2
MACQUARIE AUSTRALIA CONFERENCE
Diversified integrated model delivers value to our stakeholders
> Mirvac is a leading, diversified Australian property group, with an integrated development and asset management capability, operating across residential, retail,
office, industrial and build to rent sectors
> With our overarching purpose to reimagine urban life, we take a holistic approach to urban development, recognising that life isn’t compartmentalised
> Our collaborative approach enables seamless project delivery and gives Mirvac the capacity to undertake complex mixed use developments or projects that require
a high level of integrated expertise
INTEGRATED INVESTMENT PORTFOLIO COMMERCIAL & MIXED USE RESIDENTIAL
OFFICE INDUSTRIAL RETAIL BUILD TO RENT > ~$2.2bn active developments 6 > 26,820 pipeline lots 4
> 25 assets 1
> 10 assets 1
> 13 assets 1
> 2,173 completed and > ~$12.9bn total pipeline value 6 > ~$14.3bn expected future revenue 5
> Portfolio value: $8.1bn 2 > Portfolio value: $1.6bn 2 > Portfolio value: $3.1bn 2 pipeline apartments 3 > ~$1.6bn pre-sales 8
> NLA: 795,395 sqm > NLA: 469,339 sqm > GLA: 394,344 sqm 7 > Portfolio value: $0.5bn 2
Artist impression Artist impression Artist impression Artist impression
1. Includes assets held for sale/on market for sale and excludes IPUC and properties being held for development. Retail excludes Tramsheds Sydney, sold in February 2022.
2. Portfolio value includes IPUC, assets held for sale/on market for sale, and properties being held for development and represents fair value (excludes gross up of lease liability under AASB 16). Retail excludes Tramsheds Sydney, sold in February 2022.
3. As at 31 March 2022, includes LIV Indigo and expected apartments, subject to various factors outside of Mirvac’s control such as planning outcomes, market demand and COVID-19 uncertainties.
4. Subject to change depending on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
5. Represents Mirvac’s share of expected future revenue subject to change depending on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
6. Represents 100% expected end value, subject to various factors outside Mirvac’s control such as planning outcomes, market demand and COVID-19 uncertainties.
7. As at 31 March 2022, excludes 80 Bay Street and 1-3 Smail Street, Ultimo and Tramsheds Sydney, sold in February 2022.
8. As at 31 March 2022. 3 MAY 2022 — 3
MACQUARIE AUSTRALIA CONFERENCE
Integrated model drives growth through cycles
THE MIRVAC DIFFERENCE
INTEGRATED ASSET CREATION AND CURATION CAPABILITY IS A KEY COMPETITIVE ADVANTAGE:
'FLY-WHEEL' EFFECT HAS CONSIDERABLE BENEFITS TO STAKEHOLDERS
ASSET CREATION
> Development capability and in-house > Active EBIT re-invested into
Development
construction supports cost, risk management development pipeline
and innovation flexibility Funds distributions from recurring
income and future developments
> Customer feedback incorporated
into asset design Development > Young, modern, well-located, best-in-class,
EBIT sustainable Investment portfolio
> Net positive carbon outcomes ASSET CURATION
Integrated > High customer NPS scores across portfolio
NTA
investment and repeat customers
Uplift
> $4.2bn of new assets created last 6.5 years 1 portfolio
> Average Office NABERS rating 5.3 Stars
– valuable in competitive secondary market
> Low capex/incentive cash flow leakage
> ~$1bn of development value created 1
> NTA growth of 7.4% pa 1 New recurring high > >100bps of outperformance 3 generated
Delivers new assets quality rental income on Office portfolio over last 3, 5 & 15 years
> ~$120m of new annual income created 2
> Organic FM growth opportunities –
Capital Partnerships
FUM growth >20% pa 4
drives asset & funds
1. Over the last 6.5 years, FY15-1H22. management fee income
2. Annualised 1H22 income of all assets created between FY15-1H22 (MGR share).
3. RIA, as at December 2021.
4. FY15-1H22 annualised external assets under management growth.
3 MAY 2022 — 4
MACQUARIE AUSTRALIA CONFERENCE
Integrated model delivers outperformance
ANNUALISED TOTAL RETURN PERFORMANCE CONTINUED GROWTH IN EXTERNAL AUM
Mirvac Portfolio vs Australian Market Benchmark
~$5bn
12% $16.0 billion
1
10.8%
>22%
9.9% Future potential
9.3% organic growth from
9.0% 12
8.4% development pipeline
8 PA CAGR $10.3
SINCE FY15 $9.9
$9.4
$8.7
6.1% 8 $7.7
$5.8 $6.3
4
4
$2.8
0 0
15 YRS 5 YRS 3 YRS FY15 FY16 FY17 FY18 FY19 FY20 FY21 1H22
Mirvac Portfolio Australian Market Benchmark External assets and funds under management
Source: Real Investment Analytics, December 2021 For illustrative purposes, represents 50% of CMU development pipeline, potentially sold to capital partners
1. ~$5bn assumes 50% capital partnership on current development pipeline assets with 100% Mirvac ownership.
3 MAY 2022 — 5
MACQUARIE AUSTRALIA CONFERENCE
Reiterated guidance illustrates the resilience of the business model
OPERATING EPS AND DPS
16.0 cents
at least 15.0
14.0 14.0
GUIDANCE FY22 EPS
12.0
at least 7.1%
GROWTH ON FY21
10.2
10.0 9.9
8.0
6.0
FY21 EPS FY22 EPS GUIDANCE FY21 DPS FY22 DPS GUIDANCE
3 MAY 2022 — 6
MACQUARIE AUSTRALIA CONFERENCE
Culture & capability are key to our success
of competitiv
source ea
al dv
t ic an
ri
HIGHLY MOTIVATED
WORKFORCE 92% 93% t STRONG
EMPLOYMENT
EQUILEAP #1
IN THE WORLD FOR
AFR BOSS #1
BEST PLACES
C
ag
WITH EMPLOYEE BRAND AND CULTURE GENDER EQUALITY TO WORK
e
ENGAGEMENT AT OF EMPLOYEES RETENTION OF IN INCREASINGLY (awarded in March 2022) (awarded in April 2022) 2
80%
WOULD RECOMMEND KEY TALENT COMPETITIVE
MIRVAC AS A GREAT MARKET
PLACE TO WORK
(Top quartile of
Australian companies) 1
56:44 43% Hesta 40:40 Pride & Diversity Zero like-for-like
BOARD GENDER WOMEN IN SENIOR ROLES VISION MEMBER 2022 GENDER PAY GAP FOR LAST 6 YEARS
1. Culture Amp.
2. Property, Construction & Transport sector, awarded in April 2022.
3 MAY 2022 — 7
MACQUARIE AUSTRALIA CONFERENCE
Sustainability is at the heart of everything that we do
> Mirvac’s sustainability strategy, This Changes Everything, was launched in 2014
> The strategy was refined in 2018, focussing on six material ESG issues:
– Climate change and natural resources (environment)
– Our community and social inclusion (social)
– Our people and trusted partnerships (transparent governance)
> We aim to be a force for good
> Sustainability is in our cultural DNA
RESOURCES REIMAGINED ENRICHED COMMUNITIES TRANSPARENT GOVERNANCE
CLIMATE CHANGE NATURAL RESOURCES OUR COMMUNITY SOCIAL INCLUSION OUR PEOPLE TRUSTED PARTNER
Net positive (carbon) Net positive (water) Net positive legacy $100m social sector Highly engaged, capable Most trusted owner
investment and diverse workforce and developer
Zero waste to landfill
3 MAY 2022 — 8
MACQUARIE AUSTRALIA CONFERENCE
The value proposition
GROWTH CATALYSTS
> Short term: Quality Investment portfolio benefiting from
re-opening, immigration/student returns and bifurcation
> Medium term: Delivery of Residential apartments pipeline into LONG TERM
under-supplied market
> Long term: Value creation from ~$29bn 1 development pipeline
MEDIUM TERM
UNDERPINNED BY CULTURE AND CAPABILITY
> Proven track record: 50 year history of track record of
re‑imagining urban life
SHORT TERM
> Diversified integrated platform: internal design, develop
and construction capability
> Delivering on sustainability initiatives: Net positive
carbon, achieved in 2022, net positive water plan released,
waste reduction targets
> Culture: Strong staff engagement, Equileap #1 in the world
for gender equality, AFR Boss #1 Best place to work in Property,
INVESTMENT RESIDENTIAL ~$29BN
PORTFOLIO APARTMENTS PIPELINE 1
Construction & Transport sector
GROWTH CATALYSTS
1. Represents 100% expected end value/revenue, subject to various factors outside Mirvac’s control such as planning, market demand and COVID-19 uncertainties.
3 MAY 2022 — 9
MACQUARIE AUSTRALIA CONFERENCE
Quality assets driving office recovery LONG
TERM
MEDIUM
TERM
SHORT
TERM
SYDNEY A-GRADE VACANCY – ASSETS BUILT PRE/POST 2000
95.3%
~$29BN
(TRUST) (RESI) PIPELINE
1,800,000 sqm 12% GROWTH CATALYSTS
OCCUPANCY 1 1,654,811
10.50%
10
1,200,000
6.2 yrs
8
WALE 2 6.61%
6
5.3 star
NABERS
631,404 ENERGY RATING 4
600,000
4
98%
173,817
98%
41,735
0 2
Post-2000 Pre-2000
CASH COLLECTION 3
Building Stock Vacancy (sqm) Vacancy (%)
PORTFOLIO
Source: Arealytics, March 2022
PRIME GRADE 5
1. By area, excluding IPUC and assets held for development, as at 31 March 2022.
2. By income, excluding IPUC and assets held for development, as at 31 March 2022.
3. Net cash collections for the 9 months to 31 March 2022, excluding development impacted assets.
4. Average for Office assets.
5. By portfolio value. Locomotive Workshop South Eveleigh, Sydney
3 MAY 2022 — 10MACQUARIE AUSTRALIA CONFERENCE
Urban Retail portfolio to benefit from re-opening of borders and CBD activations LONG
TERM
MEDIUM
TERM
SHORT
TERM
CASH COLLECTION AFFECTED BY RESTRICTIONS BUT IMPROVING 4
97.4%
~$29BN
(TRUST) (RESI) PIPELINE
GROWTH CATALYSTS
100% 98%
OCCUPANCY 1 95% 94%
92%
90%
88%
82%
80
204 72%
LEASE DEALS YTD 2
60
87%
40
Q420 3 Q121 Q221 Q321 Q421 Q122 Q222 Q322
FY20 FY21 FY22
CASH COLLECTION 3
Total Investment portfolio cash collection Retail cash collection
1. By area, excluding IPUC and assets held for development, as at 31 March 2022.
2. Regular leasing deals, as at 31 March 2022.
3. Net cash collections for the 9 months to 31 March 2022, excluding development impacted assets.
4. Quarterly cash collection stats reflect YTD cash collection at that point in time. Birkenhead Point Outlet Centre, Sydney
3 MAY 2022 — 11MACQUARIE AUSTRALIA CONFERENCE
Industrial vacancy in Sydney remains tight LONG
TERM
MEDIUM
TERM
SHORT
TERM
INDUSTRIAL VACANCY IN SYDNEY BELOW 1%
100% >100,000 sqm
~$29BN
(TRUST) (RESI) PIPELINE
1,200,000 sqm GROWTH CATALYSTS
OF PRE-LEASING AT ASPECT 4
OCCUPANCY 1
800,000
6.9 yrs 0.8%
SYDNEY INDUSTRIAL
WALE 2 VACANCY
400,000
100%
CASH COLLECTION 3
0
2019 2020 2021 2022
Sydney
Source: SA1, March 2022
1. By area, excluding IPUC and assets held for development, as at 31 March 2022.
2. By income, excluding IPUC and assets held for development, as at 31 March 2022.
3. Net cash collections for the 9 months to 31 March 2022, excluding development impacted assets.
4. As at 31 March 2022, including non-binding heads of agreement. Aspect Kemps Creek, Sydney (artist impression, final design may differ)
3 MAY 2022 — 12MACQUARIE AUSTRALIA CONFERENCE
Low dwelling vacancy expected to drive rent growth
in Build to Rent
LONG
TERM
MEDIUM
TERM
SHORT
TERM
~$29BN
(TRUST) (RESI) PIPELINE
RESIDENTIAL VACANCY RATES (All dwellings, seasonally adjusted)
LIV INDIGO GROWTH CATALYSTS
98%LEASED 1
6%
4
~$1.4bnMACQUARIE AUSTRALIA CONFERENCE
Residential expect >2,500 settlements for FY22 LONG
TERM
MEDIUM
TERM
2,332 1,645
SHORT
TERM
~$29BN
(TRUST) (RESI) PIPELINE
SALES YTD SETTLEMENTS YTD GROWTH CATALYSTS
(3Q22: 518) 1 (3Q22: 342) 1
~$1.6bn
PRE-SALES 1
75%
OWNER OCCUPIER
PRE-SALES 1
1. As at 31 March 2022.
The Langlee Waverley, Sydney (artist impression, final design may differ) 3 MAY 2022 — 14MACQUARIE AUSTRALIA CONFERENCE
Medium term earnings growth from apartment completions
LONG TERM
MEDIUM
TERM
SHORT
TERM
Expected settlement profile (lots) 2
Project Value
Major projects State Stage (including GST) 1 Ownership 2H22 FY23 FY24 FY25 FY26
Pavilions NSW All stages $354m 3
PDA 98
Yarra's Edge VIC Voyager $304m 3 100% 138
The Langlee, Waverley NSW All stages $143m PDA 55
Tullamore VIC Forme $82m 100% 93
Green Square 4 NSW Released stages $423m PDA 312
NINE Willoughby NSW All stages $768m 100% 421
Ascot Green QLD Charlton House $125m PDA 115
Waterfront Sky QLD Quay $197m 100% 135
The Peninsula WA Ador $96m 100% 88
Ascot Green QLD Future stages $586m PDA 143
699 Park Street, Brunswick VIC Future stages TBC 100% 218
55 Coonara Avenue 5 NSW Future stages TBC 100% 360
The Fabric VIC Future stages $163m 100% 190
Waterfront Sky QLD Isle $185m 100% 135
Yarra's Edge VIC Tower 12 TBC 100% 167
Yarra's Edge VIC Tower 9 TBC 100% 189
Green Square 6 NSW Future stages $1,078m 100% 291
Note: PDAs are development service contracts and there is no land ownership to Mirvac.
1. Represents 100% expected future revenue subject to change, due to various factors outside of Mirvac’s control such as planning outcomes and market demand.
2. Settlement timing and lot numbers subject to change depending on planning outcomes, development and construction decisions as well as market demand and conditions, including COVID-19 uncertainties.
3. Project value includes units already settled in prior periods.
4. Residential lots only.
5. Rezoning has approved up to 600 lots (mix of apartments and housing).
6. Excludes 7 unreleased terrace homes.
3 MAY 2022 — 15MACQUARIE AUSTRALIA CONFERENCE
Apartment fundamentals supported by relative affordability and supply
LONG TERM
MEDIUM
TERM
SHORT
TERM
APARTMENT OUTLOOK SUPPORTED BY VALUE PROPOSITION AND SUPPLY SHORTAGES
APARTMENT LAUNCHES WELL-TIMED TO MEET FUTURE
APARTMENT RELATIVE AFFORDABILITY COMPELLING
LACK OF SUPPLY AND POPULATION REBOUND
> Apartment relative affordability (vs established detached housing) is at an all-time high > We expect 2023/24 east coast apartment supply to be ~45% lower than 2018 levels,
> Rise in demand for premium, well-located, larger and higher specification apartments aided by absence of offshore developers and tighter credit availability
from owner occupiers > Mirvac launched 9 major apartment projects in last 15 months with further launches
> Resumption of international migration from FY23 supportive of future demand planned over CY22 (settlements expected FY23/24+)
MEDIAN HOUSE TO UNIT PRICE PREMIUM HIGH DENSITY COMPLETIONS VS NET POPULATION ADDITIONS 1
Sydney, Melbourne & Brisbane
70% Population Apartments
300,000 55,000
60 FY23+ Major Mirvac APT completions
250,000 50,000
50
200,000
45,000
40
150,000
40,000
30 100,000
35,000
20 50,000
10 0 30,000
0 (50,000) 25,000
Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Dec 21 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26
Sydney Melbourne Brisbane Long term average Population Additions (LHS) High Density Dwelling Completions (RHS)
Source: CoreLogic 12-month median prices, Mirvac Research Source: BIS Oxford Economics (Dec 21 forecast), Australian Government Centre for Population (Dec 21 forecast)
1. Annualised.
3 MAY 2022 — 16MACQUARIE AUSTRALIA CONFERENCE
~$29bn development pipeline to deliver long term growth
LONG TERM
1
MEDIUM
TERM
SHORT
TERM
OFFICE INDUSTRIAL BUILD TO RENT MIXED USE RESIDENTIAL
~$6.5bn 1
~$2.3bn 1
~$1.4bn 1
~$2.7bn 1
~$16.4bn 1
80 Ann Street, LIV Munro, Switchyard Auburn, Aspect Kemps Elizabeth Enterprise, LIV Anura, LIV Aston/7 Spencer Street, LIV Albert Fields,
Brisbane Melbourne Sydney Creek, Sydney Badgerys Creek, Sydney Brisbane Melbourne Melbourne
2022 2022 2022+ 2023+ 2023+ 2024 2024/25 2025
699 Park Street, Isle Waterfront Waterloo Metro 90 Collins Street, 200 Turbot 55 Pitt Street, 383 La Trobe Street, Harbourside,
Melbourne Sky, Brisbane Quarter, Sydney Melbourne Street, Brisbane Sydney Melbourne Sydney
2024+ 2025+ 2025+ 2026+ 2026+ 2026+ 2026+ 2027
Note: Timeline
is indicative only and reflects potential project timing (calendar year) subject to change for reasons including planning outcomes, development and construction decisions, market conditions and COVID-19 uncertainties. All images are artist impressions, final design may differ.
1. Represents 100% expected end value/revenue, subject to various factors outside Mirvac’s control, such as planning outcomes, market demand, ongoing construction costs escalation, supply chain risks and COVID-19 uncertainties.
3 MAY 2022 — 17MACQUARIE AUSTRALIA CONFERENCE
Integrated development capability creating value
xed use develop
ASSET VALUE CREATION
ouse mi men DEVELOPMENT FLEXIBILITY
n-h t ca
c i pa
a bi
ri v l
M
ity
> $1bn of value created over last 6.5 years > Adjust designs to meet evolving
including $121m in 1H22 customer requirements
– $566 asset revaluations 1 > Sustainability leadership
– $449m realised development profit 1 > Leverage existing diversified business model skill-sets
> 30% total return on average for within Mirvac to participate in complex development
opportunities with less competition
completed developments
> $4.6bn of new assets created off-market (100% share) 3 > Construction cost and supply chain management
> ~$120m of new annual income created 2 (MGR share) > Tier 1 developer, scale and in-house design
> Capital partnering/FM income opportunities > Long development track record over 50 years
> Improve portfolio quality > Owner/developer – aligned interests
> Planning risk assessment/management
> Complex opportunities with government/public infrastructure
> Assessment/management of lease tail risks
55
Pit
t Str r)
e et d iffe
, Sy
dney n may
NEW ASSET / INCOME GENERATION (artists i d e sig RISK MANAGEMENT
mp ression, final
1. Accumulated over FY15-1H22.
2. Annualised 1H22 income of all assets created between FY15-1H22.
3. Since 2013.
3 MAY 2022 — 18MACQUARIE AUSTRALIA CONFERENCE
Pipeline to drive considerable value to investors in the long term
TRACK RECORD POTENTIAL
OF RETURNS ASSET CREATION CAPABILITY DRIVING FUTURE INCOME AND RETURNS FUTURE RETURNS
POTENTIAL FUTURE RECURRING ANNUAL NOI – 50% SHARE 1
~$120m >$250m
$300m
Future secured developments
250 OF POTENTIAL FUTURE
NEW RECURRING NOI FROM NOI COULD BE REALISED
LY
COMPLETED DEVELOPMENTS
N
1
O
OVER THE NEXT
V E
FY13-1H22 2
INDICAT I
5-6 YEARS 1
200
~$1.8bn
~$1.0bn
150 Year 1 fully let NOI
OF POTENTIAL
DEVELOPMENT UPLIFT TO BE
VALUE CREATION 100 REALISED PREDOMINATELY
FY16-1H22 3 OVER NEXT 5-6 YEARS
ACROSS CURRENT SECURED
Committed developments DEVELOPMENT PIPELINE 4
50
~30% 0
80 Ann Street, Switchyard Committed Industrial BTR Office Mixed Use
~$5bn
FUTURE POTENTIAL
TOTAL RETURN Brisbane Auburn, Sydney BTR 6
GENERATED FROM O&I Industrial BTR Office Mixed Use ORGANIC EXTERNAL
DEVELOPMENTS AUM GROWTH FROM
FY16-1H22 DEVELOPMENT
1. Indicative estimate only and not a forecast, based on current assumptions and subject to change due to planning outcomes, market conditions, leasing outcomes and COVID 19 uncertainties. NOI numbers PIPELINE 5
assume Mirvac retains a 50% stake of secured pipeline developments on completion, final outcome may differ. 2. Cumulative stabilised initial year 1 NOI from completed Office and Industrial developments,
based on 100% occupancy and 50% ownership, other than South Eveleigh at 33.3% ownership and Locomotive Workshops, South Eveleigh at 51% ownership. 3. Value creation equals development EBIT
and revaluation gain on Mirvac share retained of asset post completion. 4. Indicative estimate only and not a forecast, based on current assumptions and subject to change due to planning outcomes,
market conditions, leasing outcomes and COVID 19 uncertainties. Development uplift based on current project estimates and market aligned cap rates, final outcome may differ. 5. ~$5bn assumes 50%
capital partnership on current development pipeline assets with 100% Mirvac ownership. 6. Includes LIV Munro (Melbourne), LIV Aston (Melbourne) and LIV Anura (Brisbane). 3 MAY 2022 — 19MACQUARIE AUSTRALIA CONFERENCE
Important notice
Mirvac Group comprises Mirvac Limited (ABN 92 003 280 699) and Mirvac Property Trust An investment in Mirvac stapled securities is subject to investment and other known and unknown risks,
(ARSN 086 780 645). This presentation (“Presentation”) has been prepared by Mirvac Limited and some of which are beyond the control of Mirvac, including further COVID-19 impacts on market conditions,
Mirvac Funds Limited (ABN 70 002 561 640, AFSL number 233121) as the responsible entity of Mirvac possible delays in repayment and loss of income and principal invested. Mirvac does not guarantee any
Property Trust (collectively “Mirvac” or “the Group”). Mirvac Limited is the issuer of Mirvac Limited ordinary particular rate of return or the performance of Mirvac nor does it guarantee the repayment of capital from
shares and Mirvac Funds Limited is the issuer of Mirvac Property Trust ordinary units, which are stapled Mirvac or any particular tax treatment.
together as Mirvac Group stapled securities. All dollar values are in Australian dollars (A$). This Presentation contains certain “forward looking” statements. The words “expected”, “forecast”, “estimates”,
The information contained in this Presentation has been obtained from or based on sources believed by “consider” and other similar expressions are intended to identify forward looking statements. Forward
Mirvac to be reliable. To the maximum extent permitted by law, Mirvac, its affiliates, officers, employees, looking statements, opinions and estimates provided in this Presentation are based on assumptions and
agents and advisers do not make any warranty, express or implied, as to the currency, accuracy, reliability contingencies which are subject to change without notice, as are statements about market and industry
or completeness of the information in this Presentation or that the information is suitable for your intended trends, which are based on interpretations of current market conditions which because of COVID-19, impacts
use and disclaim all responsibility and liability for the information (including, without limitation, liability remain unknown and uncertain. Forward-looking statements including projections, indications or guidance
for negligence). on future earnings or financial position and estimates are provided as a general guide only and should not
This Presentation is not financial advice or a recommendation to acquire Mirvac stapled securities and be relied upon as an indication or guarantee of future performance. There can be no assurance that actual
has been prepared without taking into account the objectives, financial situation or needs of individuals. outcomes will not differ materially from these statements. To the full extent permitted by law, Mirvac Group
Before making an investment decision prospective investors should consider the appropriateness of the and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or
information in this Presentation and the Group’s other periodic and continuous disclosure announcements undertaking to release any updates or revisions to the information to reflect any change in expectations
lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and or assumptions. Past performance information given in this Presentation is given for illustrative purposes
needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their only and should not be relied upon as (and is not) an indication of future performance. Where necessary,
jurisdiction. comparative information has been reclassified to achieve consistency in disclosure with current year
amounts and other disclosures.
To the extent that any general financial product advice in respect of the acquisition of Mirvac Property
Trust units as a component of Mirvac stapled securities is provided in this Presentation, it is provided by This Presentation also includes certain non-IFRS measures including operating profit after tax. Operating profit
Mirvac Funds Limited. Mirvac Funds Limited and its related bodies corporate, and their associates, will not after tax is profit before specific non-cash items and significant items. It is used internally by management to
receive any remuneration or benefits in connection with that advice. Directors and employees of Mirvac assess the performance of its business and has been extracted or derived from Mirvac’s financial statements
Funds Limited do not receive specific payments of commissions for the authorised services provided ended 31 December 2021, which has been subject to review by its external auditors.
under its Australian Financial Services License. They do receive salaries and may also be entitled to This Presentation is not an offer or an invitation to acquire Mirvac stapled securities or any other financial
receive bonuses, depending upon performance. Mirvac Funds Limited is a wholly owned subsidiary products and is not a prospectus, product disclosure statement or other offering document under
of Mirvac Limited. Australian law or any other law. It is for information purposes only.
The information contained in this presentation is current as at 31 December 2021, unless otherwise noted.
3 MAY 2022 — 21AUTHORISED FOR RELEASE BY
Thank you
The Mirvac Group Continuous
Disclosure Committee
CONTACT
Gavin Peacock, CFA MIRVAC GROUP
General Manager Investor Relations Level 28, 200 George Street,
investor.relations@mirvac.com Sydney NSW 2000You can also read
